Magellan Aerospace Awarded Multi-Year Contract From Sikorsky Aircraft Corporation

TORONTO--(BUSINESS WIRE)--Magellan Aerospace Corporation (“Magellan”) announced today a contract award from Sikorsky Aircraft Corporation (“Sikorsky”), a Lockheed Martin Company for low rate initial production (LRIP) of assemblies to support the production of the CH-53K® LRIP configuration helicopter. The multi-year, multi-million dollar agreement will be delivered from Magellan’s New York facility commencing in 2023.

The contract consists of hard metal, machined deliverables for the U.S. Marine Corps (USMC) for the production of the CH-53K King Stallion, the next generation heavy-lift helicopter being produced to replace the CH-53E Super Stallion. The CH-53K achieved initial operating capability in 2022 and is on track to deploy to the fleet in 2024. The Marine Corps plans to deploy the first CH-53K Marine Expeditionary Unit detachment in fiscal year 2024.

The USMC’s procurement objective is 200 helicopters.

Commenting on the contract, Mr. Phillip C. Underwood, President and CEO of Magellan Aerospace Corporation said, “We are delighted with this significant new contract award and the opportunity to solidify the relationship between Sikorsky and Magellan. This agreement is an important expression of confidence in our operational performance and the expertise in precision hard metal machining at our New York facility.”

About Magellan Aerospace Corporation

Magellan Aerospace Corporation is a global aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced proprietary products for military and space markets, and provides engine and component repair and overhaul services worldwide. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe, and India.

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